McKesson Co. (NYSE:MCK) Shares Acquired by Waldron Private Wealth LLC

Waldron Private Wealth LLC increased its position in McKesson Co. (NYSE:MCK) by 45.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,335 shares of the company’s stock after acquiring an additional 416 shares during the period. Waldron Private Wealth LLC’s holdings in McKesson were worth $661,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Distillate Capital Partners LLC raised its position in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after buying an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp increased its position in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC increased its position in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new position in McKesson during the first quarter worth approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in McKesson during the second quarter worth approximately $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Barclays boosted their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Robert W. Baird reiterated a “neutral” rating and set a $531.00 price objective (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Finally, Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $610.86.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

NYSE MCK opened at $505.38 on Wednesday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market capitalization of $65.67 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company’s fifty day moving average price is $519.31 and its two-hundred day moving average price is $551.72.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the firm posted $7.27 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio is 12.69%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.